The Royal Bank of Scotland鈥檚 group director of property has left the company for undisclosed reasons, as the bank mulls a wide-ranging review of its property strategy

Barry Varcoe, who is also head of CoreNet Global, the body for asset managers, left RBS in the past fortnight.

A spokesperson for the bank confirmed the move, but would not discuss the reasons for the shift. He said: 鈥淲e can confirm Varcoe left on 30 September.鈥�

As property director, Varcoe had been in charge of the bank鈥檚 portfolio of offices and branches, as well as new projects. RBS has been talking to consultants about a radical review of its property strategy, which could lead to it outsourcing some of the work.

A source said: 鈥淭hey鈥檝e looked at what鈥檚 possible, but it seems they鈥檙e going to tone it down.鈥�

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